Businessman Otto Baumgart, chairman of the board of directors of the Baumgart Group, died last Sunday (11), after a long fight against cancer.
Baumgart was one of the main names in the real estate and entertainment sector in São Paulo. With arms also in industry, real estate and agribusiness, the Baumgart Group controls, among other assets, Shopping Center Norte and Expo Center Norte, two of the largest retail and events complexes in the capital of São Paulo, in addition to Novotel São Paulo Center Norte, a hotel that is part of Cidade Center Norte and is operated by AccorHotels.
Member of the third generation of the founding family, he built his career combining academic training and experience outside the family business before assuming strategic roles in the group. He worked at companies such as Toshiba, Itaú and Ancar, in addition to a stint in New York, before returning to the Baumgart Group, where he led processes of professionalization of management, strategic planning and governance.
On the board, he was one of the main articulators of the model that separates family, shareholders and administration, a structure that allowed the group to go through generations with greater predictability and discipline.
In recent years, he has also acted as an investor in startups in sectors such as technology, finance and food, in addition to maintaining active involvement in third sector projects aimed at training young people from the outskirts of the northern zone of São Paulo.
Diagnosed with cancer at the end of 2023, he began to publicly report a reorientation of priorities, with more focus on family, health and social impact initiatives, without moving away from his role on the board.
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The wake will be held this Tuesday (13), from 12pm to 4pm, at Funeral Morumbi, in the south of São Paulo. The burial is scheduled for 5pm at Cemitério Redentor, in Sumaré. The family asked that those present wear white clothes.
